TOKYO (Reuters) – Mitsubishi UFJ Financial Group (MUFG) posted a narrower-than-expected decline in fourth-quarter profit on Wednesday, and forecast slight profit growth in the current financial year.
For the January-March fourth quarter, MUFG reported a group net profit of 192.87 billion yen ($1.24 billion), compared with 773.3 billion yen in the same period a year earlier. The results also compared the 147 billion yen quarterly profit implied by the full-year forecasts of 13 analysts polled by LSEG.
For the current financial year, MUFG forecast a profit of 1.5 trillion yen. That compared to the full-year profit of 1.49 trillion in the year that just ended.
MUFG is the last of Japan’s three megabanks to report quarterly results on Wednesday.
($1 = 156.0400 yen)
(Reporting by Anton Bridge; Editing by David Dolan and Edwina Gibbs)
Brought to you by www.srnnews.com
